Multiple Choice Questions on Tally are given with Answers for the benefit of students. It Covers all types of MCQ on Tally so that you can practice them as often as possible. Answer the Important MCQ Quiz Questions on Tally and analyze your understanding of the Topic. We have provided Answers too for all the Objective Questions on Tally for your reference so that you can cross-check whether your answers are right or not.
Tally Questions for Practice with Answers
1. Which account is the odd one
A. Furniture
B. Land and buildings
C. Stock of raw materials
D. Plant and machinery
Answer
Answer: Option C
Explanation : All of above mentioned are tangible asset as they have finite monetary value and available in physical form. Among all except Stock of raw materials are Fixed Assets where as Stock of raw materials is current assets.
2. Which of the following is the example of external users of accounting information
A. Government
B. Owners
C. Management
D. Employee
Answer
Answer: Option A
Explanation : Government is the example of external users of accounting information.
3. A ______ is sent to a customer when he returns the goods
A. Debit note
B. Credit note
C. Proforma invoice
D. Bill
Answer
Answer: Option B
Explanation : Sales return are recorded in Credit note voucher. A credit note is a document sent by a seller to its buyer or, in other words, a vendor to the customer, notifying that a credit has been provided to their account against the goods returned by the buyer.
4. A ______ is sent to the seller when he is taken back the sold goods
A. Debit note
B. Credit note
C. Proforma invoice
D. Bill
Answer
Answer: Option A
Explanation : A debit note is sent to the seller when he is taken back the sold goods.
5. Which of the following is not a transaction
A. Goods are purchased on cash basis for Rs 1000
B. Salaries paid for the month of May 20XX
C. Land is purchased for Rs 10 lakhs
D. An employee is dismissed from the job
Answer
Answer: Option D
Explanation : An accounting transaction is a business event having a monetary impact on the financial statements of a business. It is recorded in the accounting records of the business. An employee is dismissed from the job does not have any monetary impact so it is not a transaction.
6. Which shortcut key is used in Company Features screen to use Accounting Features in Tally
A. F1
B. F2
C. F3
D. F4
Answer
Answer: Option A
Explanation : F1 shortcut key is used in Company Features screen to use Accounting Features in Tally.
7. Which shortcut key is used in Company Features screen to use Inventory Features in Tally
A. F1
B. F2
C. F3
D. F4
Answer
Answer: Option B
Explanation : F2 shortcut key is used in Company Features screen to use Inventory Features in Tally.
8. Which shortcut key is used in Company Features Screen to use Statutory & Taxation in Tally
A. F3
B. F4
C. F2
D. F1
Answer
Answer: Option A
Explanation : F3 shortcut key is used in Company Features Screen to use Statutory & Taxation in Tally.
9. Which key is used to post entry in Debit Note in tally
A. F7
B. F8
C. Ctrl + F9
D. Ctrl + F8
Answer
Answer: Option C
Explanation : Ctrl + F9 key is used to post entry in Debit Note in tally.
10. Which shortcut key is used to view Report with all details in Tally
A. F1
B. Alt + F1
C. F3
D. Alt + F2
Answer
Answer: Option B
Explanation : Alt + F1 shortcut key is used to view Report with all details in Tally.
11. Which option is selected from Company Info Menu to divide company data into two financial years
A. Change Tally Vault
B. Alter
C. Split Company Data
D. New Company
Answer
Answer: Option C
Explanation : At the Gateway of Tally, press ALT+F3 or click F3:Cmp Info > Select the option Split Company Data > Select the option Select Company > Select the Company whose data is to be split.
Tally recommends the split-off date based on the data existing. It is recommended that the Split Point is set as the beginning of the latest financial year though Tally permits any date as the split point.
12. Which option is used to copy company’s data into pendrive or CD
A. Backup
B. Restore
C. Split Company Data
D. Copy Data
Answer
Answer: Option A
Explanation : Go to company info Menu ( Use Alt + F3 from gateway of Tally ).
Select Backup menu, The backup processing screen will appear.
Select the source of data, normally this will be selected automatically no need to change.
Change the destination if required ,This needs to be changed in most cases if you want data backup in a removable disk (pendrive or CD).
Select the companies from the list ,choose End of list.
Accept and save the screen, the data will be backed up in destination folder you have mentioned.
13. Which option is used to place data taken in pen drive or CD to Appropriate place in Tally
A. Backup
B. Restore
C. Split Company Data
D. None of these
Answer
Answer: Option B
Explanation : Go to Gateway of Tally > F3 : Cmp Info > Restore to view the Restore Companies screen.
Destination – The folder path where your company data is to be restored. Do not restore backup data in the folder where your company data exists, since it may overwrite the existing data.
Source – The folder path where the backup file is stored. You can restore data stored locally on your computer, on any external storage device, or on a storage space on the network.
Select the required companies from the List of Companies . Select All items to restore data of all companies.
Press Ctrl+A to restore the data backup.
14. Which option is used to open company created in Tally
A. Create Company
B. Alter
C. Select Company
D. Shut Company
Answer
Answer: Option C
Explanation : In the Company Info. menu choose Select Company option.
Then you will see the List of Companies, which are created using the Create Company option under the Company Info. menu.
From the list choose any one of the companies.
15. Which option is used in Tally to close opened Company
A. Alter
B. Shut Company
C. Create Company
D. Select Company
Answer
Answer: Option B
Explanation : If you already opened the multi-companies and working on them and want to close any of them or two then there is two ways to close them.
Go to company info by pressing ALT+F3
There you will see the option Shut company, click on it
You will see all companies list.
Select the company which you want to close one by one.
Selected company will close after you have selected.
16. Tally package is developed by
A. Peutronics
B. Tally Solutions
C. Coral Softwares
D. Vedika Softwares
Answer
Answer: Option B
Explanation : Tally Solutions Pvt. Ltd., is an Indian multinational company that provides enterprise resource planning software. It is headquartered in Bangalore, Karnataka India.
Tally Solutions, then known as Peutronics, was co-founded in 1986 by Shyam Sunder Goenka and his son Bharat Goenka.
17. in general the financial year from shall be from
A. 1st April of any year
B. 31st March of any year
C. All of them are true
D. None of these
Answer
Answer: Option A
Explanation : The Balance Sheet and Income statement of companies across the Globe are usually prepared for a period of 1 year. However, the date from which this period starts varies from country to country.
In India, this 1 year period starts from 1st April and ends on 31st March.
18. Which menu appears after starting Tally for the first time
A. Gateway of Tally
B. Company Info
C. Display
D. None of these
Answer
Answer: Option B
Explanation : After installation, the application opens to the screen shown Company Info
19. Which option is used in Tally to make changes in created company
A. Select Company
B. Shut Company
C. Alter
D. None of these
Answer
Answer: Option C
Explanation : After creation the company, For altering a company following procedures is to done:-
1) Select ‘F3 Company Info’ on ‘Gate way of Tally’.
2) Select ‘Alter’
3) Select ‘EXAMVEDA.COM Limited’
4) Now Screen of Company Alteration shall appear.
20. Which option from Company Info. menu is selected to create a new Company in Tally
A. Company Create
B. Create Company
C. Create
D. New Company
Answer
Answer: Option B
Explanation : Company info menu. (If you are in Gateway of Tally Press Alt+F3 to get that menu), Select Create Company option in the menu and press enter key, company creation screen will be appeared.
21. How many groups are pre-defined in Tally
A. 28
B. 30
C. 15
D. 19
Answer
Answer: Option A
Explanation : Tally.ERP 9 provides a list of Groups called pre-defined groups. There are twenty eight pre-defined groups in Tally.ERP 9. These groups are a part of the chart of accounts for most organizations. For example, Sales Accounts is a pre-defined group. All sales ledgers can be classified under this group.
22. How many primary groups are there in Tally
A. 19
B. 28
C. 15
D. 20
Answer
Answer: Option C
Explanation : Out of the twenty eight pre-defined groups, fifteen are primary groups and thirteen are sub-groups. The user can create any number of Primary Groups and Sub Groups which are again grouped under a Primary Group/Sub Group.
23. How many secondary groups are there in Tally
A. 15
B. 13
C. 28
D. 3
Answer
Answer: Option B
Explanation : Out of the twenty eight pre-defined groups, fifteen are primary groups and thirteen are sub-groups. The user can create any number of Primary Groups and Sub Groups which are again grouped under a Primary Group/Sub Group.
24. Which option is used to view list of Primary and Secondary groups in Tally
A. List of Accounts
B. Accounts
C. List
D. None of these
Answer
Answer: Option A
Explanation : List of accounts is used to view list of Primary and Secondary groups in Tally. It displays the existing chart of accounts, listed as groups, in alphabetical order.
To view list of accounts:
Go to Gateway of Tally > Display > List of Accounts
25. Which ledger is created by Tally automatically as soon as we create a new company
A. Cash
B. Profit ; Loss A/c
C. Capital A/c
D. A and B both
Answer
Answer: Option D
Explanation : There are two pre-defined (or automatically created) ledgers available in Tally.ERP 9, they are:
Cash – This Ledger is created under the Group Cash-in-hand. You can enter the opening balance as on the date of books beginning from. You can also alter the name and even delete the Ledger.
Profit and Loss Account – This Ledger is created under the Group Primary. Previous year’s Profit or Loss is entered as the opening balance for this ledger. The balance entered here is treated as the opening profit/loss and shown in the Balance Sheet as opening balance of Profit and Loss account in the Liabilities side.
You cannot delete this ledger, but you can modify the same.
26. Which option is used to move from one company to another when more than one companies are open
A. Company Info
B. Shut Company
C. Select Company
D. Company
Answer
Answer: Option C
Explanation : From the Company Info. menu choose Select Company option to move from one company to another when more than one companies are open.
27. Which menu is used to create new ledgers, groups and voucher types in Tally
A. Reports
B. Import
C. Transactions
D. Masters
Answer
Answer: Option D
Explanation : New ledgers, groups and voucher types in Tally is created from Masters
Go to Gateway of Tally > (under Masters) Account info.
28. Which submenu is used to create new ledgers, groups and voucher types in Tally
A. Account Info
B. Inventory Info
C. Accounting Vouchers
D. Inventory Vouchers
Answer
Answer: Option A
Explanation : New ledgers, groups and voucher types in Tally is created from Account info submenu.
Go to Gateway of Tally > (under Masters) Account info.
29. Which submenu is used for voucher entry in Tally
A. Vouchers
B. Accounting Vouchers
C. Accounts Info
D. None of these
Answer
Answer: Option B
Explanation : For voucher entry in Tally Accounting Vouchers submenu is used.
Go to Gateway of Tally > (under Transactions) Accounting Vouchers
30. eTCS means
A. Enable Tax Collected at Source
B. Electronic Tax Collected at Source
C. Electric Tax Collected at Source
D. None of these
Answer
Answer: Option B
Explanation : eTCS stands for Electronic Tax Collected at Source
31. Salary Account comes under which head
A. Indirect Incomes
B. Indirect Expenses
C. Direct Incomes
D. Direct Expenses
Answer
Answer: Option B
Explanation : Salary Account is generally indirect expense because it cannot be conveniently allocated to a particular product.
32. To get Payroll Reports choose
A. Gateway of Tally > Display
B. Gateway of Tally > Display > Statement of Accounts
C. Gateway of Tally > Display > Statement of Payroll
D. Gateway of Tally > Display > Payroll Reports
Answer
Answer: Option D
Explanation : Gateway of Tally > Display > Payroll Reports
33. BOM represents
A. Billing of Machines
B. Bill of Materials
C. Bill of Maintenance
D. None of these
Answer
Answer: Option B
Explanation : A bill of materials (BOM) is a comprehensive inventory of the raw materials, assemblies, subassemblies, parts and components, as well as the quantities of each, needed to manufacture a product. This facilitates immediate reduction in stock of the item automatically. This process of listing the items that make up another item is made possible in Tally by enabling the Bill of Materials Facility.
Bill of Material (BoM) is created only for those items that are being assembled in-house. Therefore, you need to specify a BoM at the time of creating a Stock Item or while altering the stock item. For trading items, you do not need a BoM.
34. “Alias” represents
A. Short name
B. Nick name
C. Code name
D. All of these
Answer
Answer: Option D
Explanation : An Alias in Tally is, an another name given to Tally master, alias is a Secondary Name to Same master, It can be Short name, Nick Name, Code Name, Part Number etc as per business needs.
35. If we purchase any fixed asset in credit, we can pass it from
A. Payment mode
B. Receipt mode
C. Purchase mode
D. Contra mode
Answer
Answer: Option C
Explanation : To account a fixed asset purchase in tally, normally we use journal voucher in earlier versions of tally. But now you can use purchase voucher to enter purchase of fixed assets in latest versions of tally ERP9.
To activate fixed asset purchase in purchase voucher,
Gateway of Tally > F12 Configure > Voucher Entry
Allow expense/fixed assets in purchase vouchers : Yes
36. Where do we record interest received, commission received or rent received in Tally
A. Contra
B. Payment
C. Receipt
D. Journal
Answer
Answer: Option C
Explanation : Receipt voucher is used to record all receipts into Bank or Cash Accounts. Such receipt from debtors, any direct or indirect income, refund of loans or advances given earlier, sale of fixed assets, cash sale etc.
Gateway of tally > Accounting Voucher > Receipt (F6)
37. Where do we record cash sales in Tally
A. Contra
B. Receipt
C. Payment
D. Journal
Answer
Answer: Option B
Explanation : Receipt voucher is used to record all receipts into Bank or Cash Accounts. Such receipt from debtors, any direct or indirect income, refund of loans or advances given earlier, sale of fixed assets, cash sale etc.
Gateway of tally > Accounting Voucher > Receipt (F6)
38. Where do we record credit purchase of furniture in Tally
A. Purchase
B. Payment
C. Receipt
D. Journal
Answer
Answer: Option A
Explanation : To account a fixed asset purchase in tally, normally we use journal voucher in earlier versions of tally. But now you can use purchase voucher to enter purchase of fixed assets in latest versions of tally ERP9.
To activate fixed asset purchase in purchase voucher,
Gateway of Tally > F12 Configure > Voucher Entry
Allow expense/fixed assets in purchase vouchers : Yes
39. Where do we record purchase return, sales return, depreciation, bad debts etc.in Tally
A. Journal
B. Payment
C. Contra
D. Receipt
Answer
Answer: Option A
Explanation : Generally as per option given we use Journal Voucher record purchase return, sales return, depreciation, bad debts etc.in Tally.
But Debit Note voucher (Ctrl+F9) can be used to enter purchase return and Credit Note voucher (Ctrl+F8) can be used to enter sales return in latest versions of tally ERP9.
40. Which of the following equation is true for balance sheet
A. Assets = Liabilities + Capital
B. Liabilities = Assets + Capital
C. Capital = Assets + Liabilities
D. All of these
Answer
Answer: Option A
Explanation : The balance sheet displays the company’s total assets, and how these assets are financed, through either debt or equity. It can also be referred to as a statement of net worth, or a statement of financial position. The balance sheet is based on the fundamental equation: Assets = Liabilities + Equity(Capital).
41. We can change the Company Information from
A. A Company Info > Back up
B. Company Info > Alter
C. Company Info > Split Company Data
D. None of these
Answer
Answer: Option B
Explanation : After creation the company, For altering a company following procedures is to done:-
1) Select ‘F3 Company Info’ on ‘Gate way of Tally’.
2) Select ‘Alter’
3) Select ‘EXAMVEDA.COM Limited’
4) Now Screen of Company Alteration shall appear.
42. Company Restore option is available in
A. Company Features
B. Company Information
C. Configuration
D. None of these
Answer
Answer: Option B
Explanation : Go to Gateway of Tally > F3 : Cmp Info > Restore to view the Restore Companies screen.
Destination – The folder path where your company data is to be restored. Do not restore backup data in the folder where your company data exists, since it may overwrite the existing data.
Source – The folder path where the backup file is stored. You can restore data stored locally on your computer, on any external storage device, or on a storage space on the network.
Select the required companies from the List of Companies . Select All items to restore data of all companies.
Press Ctrl+A to restore the data backup.
43. We can modify an existing Company from
A. Company Info > Alter
B. Company Info > Alter Company
C. Gateway of Tally > Modify Company
D. None of these
Answer
Answer: Option A
Explanation : After creation the company, For altering a company following procedures is to done:-
1) Select ‘F3 Company Info’ on ‘Gate way of Tally’.
2) Select ‘Alter’
3) Select ‘EXAMVEDA.COM Limited’
4) Now Screen of Company Alteration shall appear.
44. Party account can be created through
A. Group creation window
B. Ledger creation window
C. Inventory creation window
D. Any one of them
Answer
Answer: Option B
Explanation : A business deals with customers, wholesalers, retailers and many such business parties on a day-to-day basis. Party ledgers (Accounts) is used to record transactions which may involve receipts or payments, or supplies or receipts from these parties.
Gateway of Tally > Accounts Info. > Ledgers > Create
45. What is the utility of Tally Vault Password
A. It will lock the period of Company
B. It will lock all voucher entries for that Company
C. It will not show the Company Name in the Company Select List
D. None of these
Answer
Answer: Option C
Explanation : Tally Vault is like a lock which is not going to show company into the list of companies, due to which your company details will not be accessible by anyone and secrecy and privacy can be maintained with the help of that feature. When company will be selected from ‘select company’ menu, symbol like this ************ will be shown. Thus, not showing any of the details of the company to others.
So Tally Vault is a kind of security feature built in Tally. An advanced level security feature in Tally ERP to keep up confidentiality of information by encrypting the data. Tally Vault uses a password with an advanced algorithm to validate a new user without any prior understanding of the password and the form of data is not located on the device.
46. How many options related to Company Features are there in “F11: Features” in Tally
A. 3
B. 2
C. 4
D. 5
Answer
Answer: Option D
Explanation : F11 features of company are further divided into different categories
1. Accounting Features
2. Inventory Features
3. Statutory and Taxation
4. Tally Software Services (TSS) Features
5. Add-on Features
47. Which option is used to make changes in created Groups of Ledgers in Tally
A. Create
B. Display
C. Alter
D. Change
Answer
Answer: Option C
Explanation : You can edit a ledger in the following way.
Accounts info > Ledger > Alter
A List of ledgers will display, select the one you want to modify.
48. Which unit is created for stock items like grain, pulse, sugar, oil, ghee etc.
A. Lts
B. Nos
C. Kgs
D. Box
Answer
Answer: Option C
Explanation : These product in India generally sold in Kilogram (Kgs), so Kgs unit should be created for stock items like grain, pulse, sugar, oil, ghee etc. It can vary country to country.
49. Which option is used to view Trial Balance from Gateway of Tally?
A. Gateway of Tally > Reports > Trial Balance
B. Gateway of Tally > Trial Balance
C. Gateway of Tally > Display > Trial Balance
D. None of these
Answer
Answer: Option C
Explanation : Gateway of Tally > Display > Trial Balance
50. How many voucher types are readily available in Tally
A. 18
B. 16
C. 20
D. 28
Answer
Answer: Option A
Explanation : There are 18 different pre-defined voucher types pertaining to accounting, inventory and payroll. When the payroll feature is enabled, the number of pre-defined voucher types is 20.
51. Which voucher type is used to transfer amount from one bank to another
A. Contra
B. Payment
C. Receipt
D. Post-Dated
Answer
Answer: Option A
Explanation : As per the Accounting Principles, a Contra entry is a transaction involving transfer of cash between one Bank / Cash account to another Bank / Cash account, Cash Deposit / Withdrawals into/from Bank.
Contra voucher type is used in tally to transfer amount from one bank to another.
Go to Gateway of Tally > Accounting Vouchers > Select F4: Contra from the Button Bar or press F4 .
52. Which option is true for viewing Profit & Loss A/C in Gateway of Tally
A. Gateway of Tally > Reports > Profit ; Loss A/C
B. Gateway of Tally > Display > Profit ; Loss A/C
C. Gateway of Tally > Account Books > Profit ; Loss A/C
D. None of these
Answer
Answer: Option A
Explanation : Gateway of Tally > Reports > Profit & Loss A/C
53. By default, which mode is on in Purchase and Sales voucher
A. Normal Mode
B. Item Invoice Mode
C. Particulars Mode
D. None of these
Answer
Answer: Option B
Explanation : By default, Item Invoice Mode (Alt+I) is on in Purchase and Sales voucher
54. Rs.20,000 withdrawn from State Bank. In which voucher type this transaction will be recorded
A. Payment
B. Receipt
C. Contra
D. Post-Dated
Answer
Answer: Option C
Explanation : As per the Accounting Principles, a Contra entry is a transaction involving transfer of cash between one Bank / Cash account to another Bank / Cash account, Cash Deposit / Withdrawals into/from Bank.
Contra voucher type is used in tally to withdraw amount from bank.
Go to Gateway of Tally > Accounting Vouchers > Select F4: Contra from the Button Bar or press F4 .
55. Where do we record transactions of salary, rent or interest paid
A. Contra
B. Journal
C. Receipt
D. Payment
Answer
Answer: Option D
Explanation : Payment voucher is used to paid any type of expenses either direct or indirect expenses by cash/cheque/dd to any party. This voucher is also used to pay bill amount against credit purchases.
Gateway of tally > Accounting Voucher > Payment (F5)
56. Which step is followed to view Purchase Register
A. Gateway of Tally > Display > Sales Register
B. Gateway of Tally > Account Books > Sales Register
C. Gateway of Tally > Display > Account Books > Purchase Register
D. None of these
Answer
Answer: Option C
Explanation : Gateway of Tally > Display > Account Books > Purchase Register
57. Which of the following is not compulsory to create while entry in Accounts with Inventory
A. Stock Groups
B. Stock Items
C. Stock Categories
D. Units of Measure
Answer
Answer: Option C
Explanation : Stock Categories offers an alternative classification of Stock Items. Like stock Groups, classification is done based on similarity in behaviour. The advantage of Categorizing items is that you can classify the stock items (based on functionality) together – across different stock groups which enables you to obtain reports on alternatives or substitutes for a stock item. It is not Mandatory. For enabling Stock Category option in the Inventory Info menu, press F11 > Inventory Features > Set Yes for Maintain stock categories .
58. Which reports are prepared monthly in Tally?
A. Profit ; Loss A/C
B. Balance Sheet
C. Trial Balance
D. Cash Flow of Funds Flow
Answer
Answer: Option C
Explanation : Trial balance is a list of ledger accounts balances, showing debit balances and credit balances, separately on a certain date. Trial balance is only a statement not an account. Every transaction has equal debit and credit aspects so that the trial balance possesses equal debit and credit balances. Preparing trial balances monthly will help you to fix errors as soon as it happens.
59. By which option Purchase or Sales register can be viewed
A. Statutory Books
B. Inventory Books
C. Accounts Books
D. Display
Answer
Answer: Option C
Explanation : Gateway of Tally > Display > Account Books
60. Which option is used to view Stock Items or Group Summary
A. Accounts Books
B. Inventory Books
C. Statutory Books
D. Display
Answer
Answer: Option B
Explanation : Gateway of Tally > Display > Inventory Books
61. We can show Bill wise details of Debtors and Creditors by activating
A. Maintain Bill by bill
B. Maintain Bill wise Details
C. Maintain References
D. None of these
Answer
Answer: Option B
Explanation : Maintain Bill Wise Details is a function that helps to track the details of a voucher entry i.e. Credit Sales or Credit Purchases so important information about that particular voucher or bill is available. It also help to mark payment against particular invoice or bill. To activate this feature in tally:
Gateway of Tally > Press – F11: Accounting Features > Set ‘Yes’ to ‘Maintain Bill wise Details
62. How many inbuilt Accounts group are in tally by default
A. 29
B. 31
C. 25
D. 34
Answer
Answer: Option D
Explanation : There are 34 Predefined groups are there in Tally ERP 9. Some of them are Bank Accounts, Current Asset, Secured Loan, Indirect Expense etc. Apart from these pre-defined Groups tally allow us to create under these main groups.
63. Suspense Account Group is defined under
A. Income
B. Expenditure
C. Liabilities
D. Assets
Answer
Answer: Option C
Explanation : In tally Suspense Account Group is defined under Liabilities.
A suspense account is an account used to temporarily store transactions for which there is uncertainty about where they should be recorded. Once the accounting staff investigates and clarifies the purpose of this type of transaction, it shifts the transaction out of the suspense account and into the correct account(s). An entry into a suspense account may be a debit or a credit.
64. Manufacturing Journal creates based on
A. Journal
B. Receipt Note
C. Stock Journal
D. Purchase Quotation
Answer
Answer: Option C
Explanation : Manufacturing Journal is used to make dispatch of multiple components to manufacture a single product. For Example, A Pen is made by following things: Refill, Nib, Upper Cover, Lower Cover & Cap. To create a manufacturing journal in tally
Gateway of Tally > Inventory Vouchers > F7 : Stk Jrnl .
65. To create Manufacturing Journal which option must be activated
A. Use Common Narration
B. Narrations for each entry
C. Prefilled with Zero
D. Use as manufacturing Journal
Answer
Answer: Option D
Explanation : Gateway of Tally > Inventory Info. > Voucher Types > Create.
Set this option Use a Manufacturing Journal to Yes. Once this option is set to Yes, it will allow to record Manufacturing Journal.
66. Single Entry mode is applicable for
A. Receipt Voucher
B. Contra Voucher
C. Payment Voucher
D. All of these
Answer
Answer: Option D
Explanation : Tally gives a handy option of entering vouchers in single entry mode and double entry mode. These options are available for Contra, Receipt and payment vouchers.
67. Reversing journal is a
A. Conventional Voucher
B. Unconventional Voucher
C. Both (a) and (b)
D. None of these
Answer
Answer: Option B
Explanation : Reversing Journals (Non-Accounting/Unconventional Voucher) are special journals that are automatically reversed after a specified date. They exist only till the specified date and are effective only when they are included in reports like the Balance Sheet.
Gateway of Tally > Display > Exception Reports > Reversing Journals
68. To hide the name of the Company you need to define
A. Security Control
B. Tally Audit
C. Create at least one User
D. Tally Vault Password
Answer
Answer: Option D
Explanation : Tally Vault is like a lock which is not going to show company into the list of companies, due to which your company details will not be accessible by anyone and secrecy and privacy can be maintained with the help of that feature. When company will be selected from ‘select company’ menu, symbol like this ************ will be shown. Thus, not showing any of the details of the company to others.
So Tally Vault is a kind of security feature built in Tally. An advanced level security feature in Tally ERP to keep up confidentiality of information by encrypting the data. Tally Vault uses a password with an advanced algorithm to validate a new user without any prior understanding of the password and the form of data is not located on the device.
69. Goods returning to a Creditor after challan but before bill we need to pass
A. Debit Note
B. Receipt Note
C. Rejection Out
D. Rejection In
Answer
Answer: Option C
Explanation : Rejection Out/Purchase Returns (Alt + F6 ) Voucher is used to record goods returned back that were rejected by the company.
70. Branch / Division is a group defined under
A. Liabilities
B. Assets
C. Income
D. Expenditure
Answer
Answer: Option A
Explanation : Branch / Division is a group defined under Liabilities
71. How many types of Measurement Units we can create in Tally
A. 2
B. 3
C. 5
D. Unlimited
Answer
Answer: Option A
Explanation : The quantity of stock item is measured in units. You have to create units for stock items because stock items are purchased or sold on the basic quantity
Tally provides two type of units, which are follows:
Simple: Refers to units, such as pieces, numbers, kilograms, and grams
Compound: Refer number of quantities that makes a units, such as 1000 grams makes a 1 kilogram In this section, you learn how to create a simple and compound units, display a units, and alter a unit.
72. To activate Job Costing which options require to be activated
A. Maintain Cost Centre
B. Use Cost Centre for Job Costing
C. Both a ; b
D. None of these
Answer
Answer: Option C
Explanation : Job costing is a form of specific order costing, which applies to a job undertaken according to customer requirements and specifications. Tally.ERP 9 enables the tracking of cost and revenue information like material, labour, and overhead for a specific job down to the smallest detail. With a view to ascertaining the actual costs incurred for each job, each job is assigned a job number or a job name.
Enable job costing
1. Go to Gateway of Tally > F11: Company Features ( F1: Accounting features ).
2. Set the option ‘Maintain cost centres?’ to Yes .
3. ‘Use cost centre for job costing?’ to Yes
4. Press Crl+A to save.
73. In Tally, there are ________ predefined ledgers.
A. One
B. Two
C. Three
D. Four
Answer
Answer: Option B
Explanation : There are two pre-defined ledgers available in Tally.ERP 9, they are:
Cash – This Ledger is created under the Group Cash-in-hand. You can enter the opening balance as on the date of books beginning from. You can also alter the name and even delete the Ledger.
Profit and Loss Account – This Ledger is created under the Group Primary. Previous year’s Profit or Loss is entered as the opening balance for this ledger. The balance entered here is treated as the opening profit/loss and shown in the Balance Sheet as opening balance of Profit and Loss account in the Liabilities side.
You cannot delete this ledger, but you can modify the same.
74. We can see list of Memorandum Vouchers from
A. Cash/Bank Books
B. Exception Reports
C. Accounts Books
D. Trail Balance
Answer
Answer: Option B
Explanation : Memorandum voucher is a special voucher which are used to record transactions temporarily in tally. It is a Non-Accounting voucher whose entries do not affect accounts. The entries in this voucher are not posted into ledgers, instead are stored in a separate Memo Register.
To view all the memorandum vouchers, go to
Gateway of Tally > Display > Exception Reports > Memorandum Vouchers
75. We can see Working Capital figure changing
A. Voucher configuration
B. Profit ; Loss configuration
C. Balance Sheet configuration
D. Ledger configuration
Answer
Answer: Option C
Explanation : Gateway of Tally > Balance Sheet > press F12: Configuration and set ‘Show Working Capital figures’ to ‘Yes’ > press Alt+F1
Working capital is the difference between current assets and current liabilities.
76. We can get the report of Interest from
A. Account Books
B. Cash and Fund flow
C. Inventory Books
D. Statements of Accounts
Answer
Answer: Option D
Explanation : Gateway of Tally > Display > Statements of Accounts > Interest Calculations > Ledger .
77. To see reports of Job Work Analysis
A. Display > Statements of Accounts > Job Work Analysis
B. Display > Job Work In Reports > Job Work Analysis
C. Display > Statements of Accounts> Cost Centre > Job Work Analysis
D. None of these
Answer
Answer: Option B
Explanation : Gateway of Tally > Display > Job Work In Reports > Job Work Analysis
78. To create Scenario which option requires to be activated
A. Use Rev Journal ; Optional voucher in F12
B. Use Optional voucher in F11
C. Use Reversing voucher in F11
D. Use Rev journal ; Optional voucher in F11
Answer
Answer: Option D
Explanation : Gateway of Tally > F11: Features: F2: Accounting Features > Set Use Rev. Journals & Optional Vouchers? to Yes.
79. Optional Voucher is one type of
A. Conventional Voucher
B. Unconventional Voucher
C. Both (a) ; (b)
D. None of these
Answer
Answer: Option B
Explanation : The Non Accounting/Unconventional Vouchers are the special vouchers that are used to record provisional or non-accounting transactions. Unconventional vouchers are mainly used to exclude unnecessary entries or provisional entries from the books of accounts and make them available for what if (future reports, projections, forecasts etc.) reports required at any given time.
80. List of Optional Voucher we can get from
A. Cash Bank Books
B. Exceptional Reports
C. Accounts Books
D. Balance Sheet
Answer
Answer: Option B
Explanation : Gateway of Tally > Display > Exception Reports > Optional Vouchers
81. Transfer of materials from one godown to another godown, use
A. Manufacturing Journal
B. Stock Journal
C. Purchase Journal
D. Both A ; B
Answer
Answer: Option B
Explanation : A stock journal is used to transfer materials or stock from one location to another location. Stocks could even simply be shown as consumed or even only produced and without both consumption and production.
Gateway of Tally > Voucher Entry > ALT+F7 or Click on Stock Journal
82. Recording of actual stock as physically verified or counted is done through
A. Journal
B. Stock Journal
C. Physical Stock
D. Sales
Answer
Answer: Option C
Explanation : Physical Stock Voucher is used for recording the actual stock which is verified or counted. It could happen that the Book Stocks and the Physical Stock do not match. It is not unusual that the company finds a discrepancy between actual stock and computer stock figure.
83. Budget represents ________
A. Estimation
B. Forecasting
C. Assumption
D. All of these
Answer
Answer: Option D
Explanation : Budget is a plan quantified in monetary terms prepared and approved prior to a defined period of time, usually showing planned income to be generated and/or expenditure to be incurred during that period and the capital to be employed to attain a given objective.
84. Find out which is not a Default Ledger in Tally
A. Cash in Hand
B. Capital Account
C. Profit ; Loss
D. None of these
Answer
Answer: Option B
Explanation : There are two pre-defined ledgers available in Tally, they are:
Cash – This Ledger is created under the Group Cash-in-hand. You can enter the opening balance as on the date of books beginning from. You can also alter the name and even delete the Ledger.
Profit and Loss Account – This Ledger is created under the Group Primary. Previous year’s Profit or Loss is entered as the opening balance for this ledger. The balance entered here is treated as the opening profit/loss and shown in the Balance Sheet as opening balance of Profit and Loss account in the Liabilities side.
You cannot delete this ledger, but you can modify the same.
85. The Profit & Loss statement can be displayed in ________ format(s).
A. Horizontal
B. Vertical
C. A or B
D. None of the above
Answer
Answer: Option C
Explanation : The Profit & Loss A/c is a periodic statement, which shows the net result of business operations for a specified period. All the expenses incurred and incomes earned during the reporting period are recorded here. The Profit & Loss A/c is in horizontal form, by default. It can be view in vertical format by enabling the option Show Vertical Profit & Loss? by clicking F12: Configure
86. We can create multiple users in Tally activating
A. Tally Audit
B. Use Security Control
C. Both (a) and (b)
D. None of these
Answer
Answer: Option B
Explanation : We can create multiple users in Tally by activating ‘Use Security Control’.
87. ‘Allow components list details (Bill of Materials)’ option is activated for
A. Ledgers
B. Cost Category
C. Stock Items
D. Budgets
Answer
Answer: Option C
Explanation : Gateway of Tally > F12: Configure > select Accts/Inventory Info. and Set Enable component list details (Bill of Materials)? to Yes .
88. Retained Earnings is an alias of
A. Indirect Income
B. Reserve and Surplus
C. Capital Account
D. Investments
Answer
Answer: Option B
Explanation : Retained Earnings (RE) are the portion of a business’s profits that are not distributed as dividends to shareholders but instead are reserved for reinvestment back into the business. It is also called Reserve and Surplus.
89. We can use Stock Journal for
A. Production and Consumption
B. Inter Godown transfer for stock
C. Both (a) and (b)
D. None of these
Answer
Answer: Option C
Explanation : A stock journal is used to transfer materials or stock from one location to another location. Stocks could even simply be shown as consumed or even only produced and without both consumption and production.
Gateway of Tally > Voucher Entry > ALT+F7 or Click on Stock Journal
90. Discount Column is available in
A. Sales Invoice
B. Purchase Invoice
C. Both (a) and (b)
D. None of these
Answer
Answer: Option C
Explanation : Discount Column is available in both Sales Invoice and Purchase Invoice.
91. Default ledger accounts in tally are ________
A. Balance sheet profit ; loss and trial balance
B. Profit ; loss and trial balance
C. Cash and profit ; loss accounts
D. Cash and bank accounts
Answer
Answer: Option C
Explanation : There are two pre-defined ledgers available in Tally, they are:
Cash – This Ledger is created under the Group Cash-in-hand. You can enter the opening balance as on the date of books beginning from. You can also alter the name and even delete the Ledger.
Profit and Loss Account – This Ledger is created under the Group Primary. Previous year’s Profit or Loss is entered as the opening balance for this ledger. The balance entered here is treated as the opening profit/loss and shown in the Balance Sheet as opening balance of Profit and Loss account in the Liabilities side.
You cannot delete this ledger, but you can modify the same.
92. Default ‘godown’ name in tally is ________
A. Primary
B. Main location
C. A or b
D. None of the above
Answer
Answer: Option B
Explanation : Default ‘godown’ name in tally is Main location.
93. ‘Tally vault’ is a ________
A. Security mechanism
B. Ledger a/c
C. Cost category
D. None of the above
Answer
Answer: Option A
Explanation : Tally Vault is like a lock which is not going to show company into the list of companies, due to which your company details will not be accessible by anyone and secrecy and privacy can be maintained with the help of that feature. When company will be selected from ‘select company’ menu, symbol like this ************ will be shown. Thus, not showing any of the details of the company to others.
So Tally Vault is a kind of security feature built in Tally. An advanced level security feature in Tally ERP to keep up confidentiality of information by encrypting the data. Tally Vault uses a password with an advanced algorithm to validate a new user without any prior understanding of the password and the form of data is not located on the device.
94. A Group Company is ________ given to the merged accounts of member companies of the group
A. a name
B. an identity
C. A and B
D. None of the above
Answer
Answer: Option C
Explanation : A Group Company is a name and an identity given to the merged accounts of member companies of the group.
95. In tally you get currency symbol option from ________ menu
A. Company creation
B. Stock items units
C. Regional setting
D. None of the above
Answer
Answer: Option A
Explanation : In tally we get currency symbol option from Company creation menu.
96. Which of the following user type can view audit list
A. Tally Vault
B. Owner
C. Data Entry
D. Administrator
Answer
Answer: Option D
Explanation : The auditor / administrator can display or print the Tally Audit Listing and verify the transactions made. In case the auditor /administrator is satisfied with the authenticity of the transaction or the changes made, he will accept all or selective transactions by clicking the relevant button. Once the transactions are accepted, they are removed from the audit listing and will not be displayed again.
97. How can data be imported in tally
A. One company to another company created within Tally Package
B. Other programs – a spreadsheet or a database file
C. Depends on number of companies
D. Both A and B
Answer
Answer: Option D
Explanation : Data can be imported into Tally in XML format. It can be done from data created in previous versions of Tally or from third party applications.
98. Which of the following file is usually used as a master file
A. Inventory subsidiary
B. Cash disbursements
C. Cash receipts
D. Payroll transactions
Answer
Answer: Option A
Explanation : Inventory subsidiary is usually used as a master file.
99. What is the advantage of a computer-based transaction processing system
A. Does not require as stringent a set of internal controls
B. Will produce a more accurate set of financial statements
C. Eliminates the need to reconcile control accounts and subsidiary ledgers
D. Will be more efficient at producing financial statements
Answer
Answer: Option D
Explanation : A computer-based transaction processing system will be more efficient at producing financial statements.
100. Which of the following can be budgeted in tally
A. Nett Transactions
B. Closing Balance
C. Both A and B
D. None of the above
Answer
Answer: Option C
Explanation : Nett Transactions and Closing Balance can be budgeted in tally.
‘On Closing Balance’ option is used to compare the closing balances of the Accounts with the budgets in the final statements. ‘On Nett Transactions’ is used to monitor the transaction amounts (not the balances) for a specified period.
101. ________ gives the balance for each day for the voucher type has been selected
A. Trial Balance
B. Day book
C. Balance Sheet
D. None of the above
Answer
Answer: Option B
Explanation : The Day Book lists all transactions made in a particular day and by default displays the last voucher entry date of a regular voucher. It could also be set up to list all the transactions made over a certain period. Transactions include all financial vouchers, reversing and memorandum journals as well as inventory vouchers.
102. Which option lists inventory valuation method in tally
A. Stock report
B. Stock journal
C. Stock analysis
D. Stock summary
Answer
Answer: Option D
Explanation : Stock Summary is a statement of the real-time stock-in-hand on a particular day. It is one of the primary inventory statements that gets updated in real-time as transactions recorded. In Tally it allows to compare data for different companies, stock groups, periods, valuation methods, and so on, by adding columns in the reports.
103. How to activate the tally audit feature in a company
A. Press F11 key
B. During the creation of a company
C. In comp info > security control-option
D. Press F12 key
Answer
Answer: Option B
Explanation : Tally has an inbuilt feature- Tally Audit which enables the auditor to perform an audit or track changes that affect the integrity of a transaction, such as changes made to Date, Ledger Masters and Amounts in the Voucher are reflected in the Tally Audit Listings.
Gateway of Tally > F3: Company Info > Alter
Company Creation/Alteration screen set Use Tally Audit Features to Yes .
104. What is the predefined number of groups in tally
A. 16
B. 28
C. 128
D. 228
Answer
Answer: Option B
Explanation : Tally.ERP 9 provides a list of Groups called pre-defined groups. There are twenty eight pre-defined groups in Tally.ERP 9. These groups are a part of the chart of accounts for most organizations. For example, Sales Accounts is a pre-defined group. All sales ledgers can be classified under this group.
105. Which of the following is used for voucher entry
A. Ledger Account
B. Groups
C. Sub-Groups
D. Depends on number of companies
Answer
Answer: Option A
Explanation : Ledger Accounts are used for any voucher entry in tally.
106. A trial balance is a ________
A. Ledger
B. Journal
C. Account
D. List
Answer
Answer: Option D
Explanation : Trial balance is a list of ledger accounts balances, showing debit balances and credit balances, separately on a certain date. Trial balance is only a statement not an account. Every transaction has equal debit and credit aspects so that the trial balance possesses equal debit and credit balances. Preparing trial balances periodically will help you to fix errors as soon as it happens.
107. Sales return are recorded in ________ Voucher
A. Sales voucher
B. Debit note
C. Receipt
D. Credit note
Answer
Answer: Option D
Explanation : Sales return are recorded in Credit note voucher. A credit note is a document sent by a seller to its buyer or, in other words, a vendor to the customer, notifying that a credit has been provided to their account against the goods returned by the buyer.
108. ERP stands for
A. Enterprise resource planning
B. Economic resource planning
C. Efficient resource planning
D. Economic resource processing
Answer
Answer: Option A
Explanation : ERP stands for Enterprise resource planning. It’s a business process management software that manages and integrates a company’s financials, supply chain, operations, reporting, manufacturing, and human resource activities.
109. The home screen of tally is also known as
A. Menu bar
B. Gateway of tally
C. Accounts info
D. Button tool bar
Answer
Answer: Option B
Explanation : Gateway of tally is like the main entrance of Tally technically a screen that opens when Tally starts. It is also known as home screen of tally.
110. Full form of ODBC
A. Open database connectivity
B. Open database calculating
C. Open document basically
D. Order data base connection
Answer
Answer: Option A
Explanation : ODBC Stands for “Open Database Connectivity.” With Open Database Connectivity Tally can dynamically exchange data between any other application.
111. Which of the following shows daily balance for a selected voucher type
A. Day book
B. Trial Balance
C. Balance Sheet
D. None of the above
Answer
Answer: Option A
Explanation : The Day Book lists all transactions made in a particular day and by default displays the last voucher entry date of a regular voucher. It could also be set up to list all the transactions made over a certain period. Transactions include all financial vouchers, reversing and memorandum journals as well as inventory vouchers.
112. How many types of users are present in tally
A. 1
B. 2
C. 3
D. 4
Answer
Answer: Option C
Explanation : Basically three type of users – Administrator, Owner & Data Entry
113. Which of the following is the predefined stock category in tally
A. Primary
B. Symbol
C. Stock
D. Main location
Answer
Answer: Option A
Explanation : Primary is is the predefined stock category in tally.
114. Which file in tally is used to record the import activity
A. Tally.dat
B. Tally.ini
C. Tally.imp
D. None of the above
Answer
Answer: Option B
Explanation : Tally.ini is Tally’s initialization file. It can be also referred as configuration and setting file of Tally. When ever Tally loads itself then it takes working environment from this file. All variables from this file are picked and then tally starts functioning accordingly. So this file is important for desired working of Tally software.
115. Which of the following is compulsory to create while entry in Accounts with Inventory
A. Stock Groups
B. Stock Items
C. Units of Measure
D. All of these
Answer
Answer: Option D
Explanation : For inventory accounting in tally Stock Groups, Stock Items and Units of Measure must be created.
116. ‘Inventory books’ is used to view
A. Stock Items
B. Group Summary
C. Both A and B above
D. None of these
Answer
Answer: Option C
Explanation :
117. Trial balance is prepared on ________ basis
A. Monthly
B. Annually
C. Half yearly
D. Any of the above
Answer
Answer: Option D
Explanation : Trial balance is a list of ledger accounts balances, showing debit balances and credit balances, separately on a certain date. Trial balance is only a statement not an account. Every transaction has equal debit and credit aspects so that the trial balance possesses equal debit and credit balances. Preparing trial balances periodically will help you to fix errors as soon as it happens.
118. A ________ serves the purpose of both journal and ledger accounts
A. Journal proper
B. Purchase day book
C. Cash book
D. Any of the above
Answer
Answer: Option C
Explanation : A cash book is a separate ledger in which cash transactions are recorded, whereas a cash account is an account within a general ledger. A cash book serves the purpose of both the journal and ledger, whereas a cash account is structured like a ledger. Details or narration about the source or use of funds are required in a cash book but not in a cash account.
119. The rate of trade discount varies with the ________ purchased
A. Total asset
B. Current asset
C. Quantity
D. None of these
Answer
Answer: Option C
Explanation : Trade discount is a discount which is referred to as, discount given by the seller to the buyer at the time of purchase of goods. It is given as a deduction in the list price or retail price of the quantity sold.
120. A ‘credit note’ is sent by ________ to ________
A. Seller buyer
B. Buyer seller
C. Customer seller
D. Creditor seller
Answer
Answer: Option A
Explanation : A credit note is a document sent by a seller to its buyer or, in other words, a vendor to the customer, notifying that a credit has been provided to their account against the goods returned by the buyer.
121. Employee salary details are shown in
A. Attendance sheet
B. Gratuity papers
C. Exact reports
D. Payroll
Answer
Answer: Option D
Explanation : Employee salary details are shown in Payroll.
122. Salary comes under ________ Head
A. Direct expense
B. Current liability
C. Indirect expense
D. Current asset
Answer
Answer: Option C
Explanation : Salary Account is generally indirect expense because it cannot be conveniently allocated to a particular product.
123. Vouchers can be displayed in
A. Accounts info
B. Day book
C. Inventory info
D. Ledger
Answer
Answer: Option B
Explanation : Vouchers can be displayed in Day book.
124. Professionals usually maintain accounts as
A. Accounts with inventory
B. Accounts only
C. Normal accounting
D. Payroll accounting
Answer
Answer: Option B
Explanation : Accounts Only: To maintain only the financial accounts of the company. Inventory (stock) management is not involved in it.
Account with Inventory: This is the default option, which allows maintaining both the financial account of the company as well as the inventory of the company.
Professionals usually does not have inventory so they maintain accounts as Accounts Only in Tally.
125. A company can be deleted only in
A. Display
B. Alter
C. Delete
D. Create
Answer
Answer: Option B
Explanation : Process to delete a company in Tally: 1) Load the company you want to delete. 2) From the gateway of Tally Press Alt + F3 Shortcut key of click on Alt+F3 Company info. 3) In the company info menu select Alter menu, now you are in company alteration screen. 4) Now press Alt+D Shortcut Key 5) First confirmation message ‘Delete’ will be asked by Tally 6) Click on Yes and Press enter or press Y from your Key board. 7) Second confirmation message will be asked ‘Are you sure’. 8) Repeat the previous action Click on Yes 9) The company will have deleted.
126. Company features in tally includes
A. Accounting features
B. Inventory features
C. Statutory features
D. All of the above
Answer
Answer: Option D
Explanation : F11 features of company are further divided into different categories
1. Accounting Features
2. Inventory Features
3. Statutory and Taxation
4. Tally Software Services (TSS) Features
5. Add-on Features
127. Integrated accounts with inventory is available in
A. F12 configuration
B. F11 features
C. Inventory info
D. Accounts info
Answer
Answer: Option B
Explanation : Integrated accounts with inventory is available in F11 features. If Accounts with Inventory is set to Yes in F11: Accounting Features/ Inventory Features, the stock/inventory balance figures are automatically updated from the inventory records. You may also drill down to Stock Register from the Balance Sheet.
128. Collection of ledgers of same nature is called
A. Vouchers
B. Asset
C. Group
D. None of these
Answer
Answer: Option C
Explanation : Group are collection of ledgers of the same nature. An account group is a method of coordinating ledger accounts into a tree structured hierarchy. Each account group is component of either assets, liabilities, income and expenditure.
129. The options ‘use common narration’ and ‘narration each entry’ appear
A. Account creation screen
B. Voucher entry screen
C. F11 Accounting features
D. Voucher type creation screen
Answer
Answer: Option D
Explanation : Gateway of Tally > Accounts Information > Voucher Types > Alter
130. Predefined groups are also called as
A. Main group
B. Primary group
C. Statutory group
D. Parent group
Answer
Answer: Option C
Explanation : Predefined groups are also called as Statutory group
131. Which of the following is not a disadvantage of introducing computerized accounting system
A. Possible demotivation through reundance
B. High expenditure on set up
C. Saving made on labour cost
D. Required staff training
Answer
Answer: Option C
Explanation : Saving made on labour cost is an advantage of introducing computerized accounting system.
132. Transfer from main cash to petty cash you require to pass ________
A. Voucher
B. Payment
C. Contra
D. Receipt
Answer
Answer: Option C
Explanation : As per the Accounting Principles, a Contra entry is a transaction involving transfer of cash between one Bank / Cash account to another Bank / Cash account, Cash Deposit / Withdrawals into/from Bank.
Contra voucher type is used in tally to transfer amount from one bank to another.
Go to Gateway of Tally > Accounting Vouchers > Select F4: Contra from the Button Bar or press F4 .
133. Income tax number of the company will appear in which report
A. Cash/bank book
B. Profit and loss a/c
C. Reminder letter
D. None of these
Answer
Answer: Option D
Explanation : Income tax number of the company will appear most of reports of Tally e.g. Cash/bank book, Profit and loss A/c, Balance Sheet, Reminder letter, Party Ledger etc
134. Transactions are firstly entered in:
A. Journal
B. Ledger
C. Trial balance
D. None of these
Answer
Answer: Option A
Explanation : Transactions are always recorded firstly in journal. Journal is that book of accounts in which transactions are recorded first and then posted in ledger.
Journal is the day to day book it records daily basis transactions in systematic transactions. It is also called primary book as records transactions very firstly in systematic manner. After the journal, ledger is prepared
135. Patent account falls under
A. Investments
B. Liabilities
C. Current assets
D. None of these
Answer
Answer: Option D
Explanation : A patent is an amortizable, intangible asset that grants a business the sole right to manufacture and sell an invention. An intangible asset is a useful resource without any physical presence. The assets such as trademarks, copyrights, patents, goodwill etc are intangible assets.
136. Drawings account is to be created by linking with
A. Capital
B. Current asset
C. Current liability
D. Drawings
Answer
Answer: Option A
Explanation : Drawing Account ledger is generally created in the Capital Account group in the Ledger creation screen. So, the Drawings will automatically deducted from the Capital Account in the Balance Sheet.
137. A trial balance is prepared
A. To prepare p ;l a/c
B. To test the arithmetical accuracy
C. For making adjustments
D. To balance the a/c
Answer
Answer: Option B
Explanation : Trial balance is a list of ledger accounts balances, showing debit balances and credit balances, separately on a certain date. Trial balance is only a statement not an account. Every transaction has equal debit and credit aspects so that the trial balance possesses equal debit and credit balances. Preparing trial balances periodically will help you to fix errors as soon as it happens.
138. Capital is treated as liability because of
A. Dual aspect concept
B. Money measurement concept
C. Matching concept
D. Entity concept
Answer
Answer: Option D
Explanation : The Separate Entity Principle is a fundamental principle of Company Law applied on a global basis. Pursuant to this principle, a company is treated as a distinct entity from its members. The separate entity rule pervades company law and has had wide reaching implications on theoretical and practical company law.
Now as we know that Owners (Members/Promoters/Founders/Shareholders/Sponsors) are different legal entities in compare to the Company, Hence when they start or fund the company via investing in it, that Amount becomes the liability for company (As Company is different Legal Entity) in-order to pay them back in form of profit reruns (dividend/interest/share price increase due to good performance. So capital a liability.
139. ______ are the liabilities which are payable after a long period
A. Fixed liabilities
B. Miscellaneous expenditure
C. Current liabilities
D. Contingent liabilities
Answer
Answer: Option A
Explanation : Fixed Liabilities are mostly called non- current or long -term liabilities. These refer to the liabilities which are payable after one year. Example may include term loan, bonds, etc.
140. ______ is an example for long term liabilities
A. Creditors
B. Debentures
C. Overdraft
D. Bills payable
Answer
Answer: Option B
Explanation : Fixed Liabilities are mostly called non- current or long -term liabilities. These refer to the liabilities which are payable after one year. Example may include term loan, bonds, debenture etc.
141. The option ‘statutory compliance for’ is appearing in
A. Company creation screen
B. GST classification screen
C. F11 Statutory ; Taxation features
D. Account creation screen
Answer
Answer: Option A
Explanation : The option statutory compliance for is appearing in Company creation screen.
142. Changes in accounts are possible only in
A. Display mode
B. Alteration mode
C. Single mode
D. Multiple mode
Answer
Answer: Option B
Explanation : Changes in accounts are possible only in Alteration mode
Gateway of Tally > Accounts info > Ledger > Alter
143. Reserve group accounts in tally is
A. 28
B. 30
C. 18
D. 15
Answer
Answer: Option A
Explanation : Tally provides a list of Groups called pre-defined/reserve groups. There are twenty eight pre-defined groups in Tally. These groups are a part of the chart of accounts for most organizations. For example, Sales Accounts is a pre-defined group. All sales ledgers can be classified under this group.
144. An account that the user need not create is
A. Cash at bank
B. Sundry creditors
C. Cash in hand
D. Balance sheet
Answer
Answer: Option C
Explanation : There are two pre-defined ledgers available in Tally.ERP 9, they are:
Cash – This Ledger is created under the Group Cash-in-hand. You can enter the opening balance as on the date of books beginning from. You can also alter the name and even delete the Ledger.
Profit and Loss Account – This Ledger is created under the Group Primary. Previous year’s Profit or Loss is entered as the opening balance for this ledger. The balance entered here is treated as the opening profit/loss and shown in the Balance Sheet as opening balance of Profit and Loss account in the Liabilities side.
You cannot delete this ledger, but you can modify the same.
145. The voucher type for recording goods received
A. Rejection in
B. Receipt note
C. Purchase order
D. Stock voucher
Answer
Answer: Option B
Explanation : A Receipt Note voucher is used to record receipt of goods/items at stores in Tally. For example , the Company receives new stock item from a Supplier. If a Purchase Order exists for that supply, selecting the PO reference in the Receipt Note will display its particulars. The Receipt Note is also called Goods Receipt Note (GRN).
146. _______ is the collection of all accounts
A. Journal
B. Voucher
C. Invoices
D. Ledger
Answer
Answer: Option D
Explanation : Ledger is the most important part of your company financial records. It constitutes the records of each transaction, such as withdrawal or deposit of money through vouchers.
147. _______ is the book of original entry
A. Journal
B. Voucher
C. Invoices
D. Ledger
Answer
Answer: Option A
Explanation : Journal is the book of original entry. Journal is that book of accounts in which transactions are recorded first (original) and then posted in ledger.
Journal is the day to day book it records daily basis transactions in systematic transactions. It is also called primary book as records transactions very firstly in systematic manner. After the journal, ledger is prepared
148. The process of ascertaining the balance of a particular account on a given date is
A. Posting
B. Journalizing
C. Balancing
D. Accounting
Answer
Answer: Option C
Explanation : The process of ascertaining the balance of a particular account on a given date is called Balancing.
Balancing of an account is to total both debit and credit sides of an account and putting the difference on that side which is shorter. All ledger accounts are usually closed and balanced at the end of an accounting period. The main reason for balancing is to ascertain the precise position of a business enterprise at a particular period of time. It is worth mentioning here that only permanent accounts are balanced and carried forward to the balance sheet.
149. _______ is the expense which is unpaid at the end of the accounting period
A. Outstanding expenses
B. Prepaid expenses
C. Proposed expenses
D. Working capital
Answer
Answer: Option A
Explanation : Outstanding expenses are those expenses which have been incurred during the current accounting period and are due to be paid, however, the payment is not made. Such an item is to be treated as a payable for the business.
150. _____ is an example for tangible assets
A. Furniture
B. Debtors
C. Patent
D. Discount on issue of shares and debentures
Answer
Answer: Option A
Explanation : A tangible asset is an asset that has a finite monetary value and usually a physical form. Tangible assets include land, equipment, furniture, vehicles, cash, inventory etc.
151. Which account is the odd one
A. Furniture
B. Land and buildings
C. Stock of raw materials
D. Plant and machinery
Answer
Answer: Option C
Explanation : All of above mentioned are tangible asset as they have finite monetary value and available in physical form. Among all except Stock of raw materials are Fixed Assets where as Stock of raw materials is current assets.
152. Which of the following is the example of external users of accounting information
A. Government
B. Owners
C. Management
D. Employee
Answer
Answer: Option A
Explanation : Government is the example of external users of accounting information.
153. A ______ is sent to a customer when he returns the goods
A. Debit note
B. Credit note
C. Proforma invoice
D. Bill
Answer
Answer: Option B
Explanation : Sales return are recorded in Credit note voucher. A credit note is a document sent by a seller to its buyer or, in other words, a vendor to the customer, notifying that a credit has been provided to their account against the goods returned by the buyer.
154. A ______ is sent to the seller when he is taken back the sold goods
A. Debit note
B. Credit note
C. Proforma invoice
D. Bill
Answer
Answer: Option A
Explanation : A debit note is sent to the seller when he is taken back the sold goods.
155. Which of the following is not a transaction
A. Goods are purchased on cash basis for Rs 1000
B. Salaries paid for the month of May 20XX
C. Land is purchased for Rs 10 lakhs
D. An employee is dismissed from the job
Answer
Answer: Option D
Explanation : An accounting transaction is a business event having a monetary impact on the financial statements of a business. It is recorded in the accounting records of the business. An employee is dismissed from the job does not have any monetary impact so it is not a transaction.
156. Bank account is ________
A. Personal account
B. Real account
C. Nominal account
D. Intangible real account
Answer
Answer: Option A
Explanation : Bank account is a personal account. A living person or an organisation is recognised as a person and an account opened in a bank is hence a personal account.
157. Income earned but not received is known as ________
A. Advance income
B. Proposed income
C. Earned income
D. Accrued income
Answer
Answer: Option D
Explanation : Accrued income is income which has been earned but not yet received. Income must be recorded in the accounting period in which it is earned. Therefore, accrued income must be recognized in the accounting period in which it arises rather than in the subsequent period in which it will be received.
158. _____ refers the amount invested by the owner into business
A. Loan
B. Advance
C. Capital
D. Prepaid expenses
Answer
Answer: Option C
Explanation : Capital is the value of the investment in the business by the owner(s). It is that part of the business that belongs to the owner. Capital can also mean stock or ownership in a company.
159. _______ is the major source of revenue of any business
A. Investment
B. Advances
C. Loan
D. Sales
Answer
Answer: Option D
Explanation : Sales in accounting is a term that refers to any operating revenues that a company earns through its business activities, such as selling goods, services, products, etc.
160. Assets acquired for long term use in the business are called ________
A. Fixed assets
B. Current assets
C. Fictitious assets
D. Liquid asset
Answer
Answer: Option A
Explanation : Fixed assets are long-term assets that a company has purchased and is using for the production of its goods and services. Fixed assets are non-current assets, meaning the assets have a useful life of more than one year. Fixed assets include property, plant, and equipment and are recorded on the balance sheet.
161. A person who owes money to the business is a ________
A. Debtor
B. Creditor
C. Investor
D. Supplier
Answer
Answer: Option A
Explanation : Debtors are stakeholders who owe money to the business. Debtors are typically customers who have taken possession of goods or services from a business but have not yet paid the business for those goods and services. The English word debtor is derived from the Latin word ‘debere’ meaning ‘to owe’. So in accounting, customers who owe money to the business are called debtors.
162. Accrued income comes under
A. Current liability
B. Capital
C. Current asset
D. Fixed asset
Answer
Answer: Option C
Explanation : Accrued income refers to amounts that have been earned, but the amounts have not yet been received. The amount of accrued income that a company has a right to receive as of the date of the balance sheet will be reported in the current asset section of the balance sheet. It could be described as accrued receivables or accrued income.
163. Taxes paid come under which group
A. Capital
B. Loans and liabilities
C. Direct expenses
D. Duties and taxes
Answer
Answer: Option D
Explanation : Any Tax Ledgers should be created under Duties and Taxes group which contains all tax accounts like GST, VAT, Excise and other trade taxes and total liability.
164. Accounting principles are divided into two types. These are
A. Accounting concepts
B. Accounting conventions
C. Accounting standard
D. Both A and B
Answer
Answer: Option D
Explanation : Accounting principles are divided into two categories:
1. Accounting Concepts: Accounting Concepts are basic assumptions or conditions upon which science of accounting is based.
2. Accounting Conventions: Accounting Conventions include those customs and traditions which are followed up by an accountant while preparing a financial statement.
165. The term current assets does not include ________
A. Debtors
B. Bills Receivable
C. Stock
D. Goodwill
Answer
Answer: Option D
Explanation : Goodwill is intangible assets and classified as Non-current Assets.
166. There are ________ predefined ledgers
A. One
B. Three
C. Two
D. Four
Answer
Answer: Option C
Explanation : There are two predefined ledgers available in Tally, they are:
Cash – This Ledger is created under the Group Cash-in-hand. You can enter the opening balance as on the date of books beginning from. You can also alter the name and even delete the Ledger.
Profit and Loss Account – This Ledger is created under the Group Primary. Previous year’s Profit or Loss is entered as the opening balance for this ledger. The balance entered here is treated as the opening profit/loss and shown in the Balance Sheet as opening balance of Profit and Loss account in the Liabilities side.
You cannot delete this ledger, but you can modify the same.
167. Closing stock come under ________
A. Current asset
B. Fixed asset
C. Stock in hand
D. Direct income
Answer
Answer: Option C
Explanation : Closing stock created under Stock in hand in Tally.
168. E-mail can be used to
A. Send mail directly from tally screen
B. To send e-mail
C. Download information
D. Access help
Answer
Answer: Option A
Explanation : Through email setup Tally allow users to send ledgers, Pay Slips, Outstanding Statements, Confirmation of Accounts or balance confirmation, Reminder Letters from Tally Software it self directly.
169. In tally screen right extreme displays ________
A. Selected companies
B. Current date
C. Gate way of tally
D. Button bar
Answer
Answer: Option D
Explanation : In tally screen right extreme displays Button bar.
170. Capital of the company is included under
A. Capital account
B. Fixed liabilities
C. Loans and advances
D. Current liabilities
Answer
Answer: Option A
Explanation : Capital of the company is included under Capital account group.
171. Debit note is used for entering
A. Purchases
B. Sales
C. Purchase return
D. Sales return
Answer
Answer: Option C
Explanation : Debit Note Voucher ( Ctrl + F9) are used for debiting party accounts, for example, in case of purchase return or when your supplier has granted you credit due to different reasons. This voucher type will be available after configuration of F11 features.
172. Bottom of tally screen shows
A. Button bar
B. List of vouchers
C. List of companies
D. Calculator
Answer
Answer: Option D
Explanation : The product information bar appears at the bottom of the Tally window. It contains the basic information about the version of Tally in which we are working.
The product information bar provides the following information:
1) Software name: Displays the name of the software, for example Tally.
2) User Level: Display the type of user, for Edition –Gold, Users- Unlimited.
3) Logo: Display the logo of Tally.
4) Version number: Display the software version number.
5) Licence & Service: Displays the license of the software.
6) Configuration: Display the configuration of software.
7) Calculator: Allows you to calculate mathematical expression. To activate the Calculator: click the Calculator Band or press CTRL+N
173. ________ button helps to connect data from spread sheet or other application
A. E-mail
B. Help
C. Export
D. Browser
Answer
Answer: Option C
Explanation : Export button helps to export data or report from Tally in any one of the standard available formats.
174. For entries involving both cash and bank transactions we use ________ voucher
A. Contra voucher
B. Journal
C. Sales
D. Purchase
Answer
Answer: Option A
Explanation : As per the Accounting Principles, a Contra entry is a transaction involving transfer of cash between one Bank / Cash account to another Bank / Cash account, Cash Deposit / Withdrawals into/from Bank.
Contra voucher type is used in tally to transfer amount from one bank to another.
Go to Gateway of Tally > Accounting Vouchers > Select F4: Contra from the Button Bar or press F4 .
175. For entries not involving either cash or bank transactions we use ________ voucher
A. Contra voucher
B. Journal
C. Sales
D. Purchase
Answer
Answer: Option B
Explanation : For entries not involving either cash or bank transactions we use journal voucher.
176. Carriage inwards can be included in
A. Direct expenses
B. Indirect expenses
C. Current liability
D. Misc Expenses
Answer
Answer: Option A
Explanation : Carriage inwards is considered to be part of the cost of the items purchased. Hence, for inventory items carriage inwards will be part of the cost of the goods available, the cost of inventory, and the cost of goods sold. So carriage inwards is direct expenses.
177. The branch of accounting which analyses and interprets the overall data is ________
A. Financial accounting
B. Cost accounting
C. Management accounting
D. None of these
Answer
Answer: Option C
Explanation : Management accounting also is known as managerial accounting and can be defined as a process of providing financial information and resources to the managers in decision making. Management accounting is only used by the internal team of the organization, and this is the only thing which makes it different from financial accounting.
178. To activate cost centre and cost category feature we have to select
A. Configuration
B. F11 features
C. Group creation
D. Voucher creation
Answer
Answer: Option B
Explanation : Gateway of Tally > F11: Features > F1: Accounting Features
179. The left hand side of tally screen shows
A. Current date
B. Last entered voucher
C. Gate way of tally
D. List of selected companies
Answer
Answer: Option D
Explanation : The left hand side of tally screen shows list of selected companies.
180. Credit note is used for entering
A. Purchases
B. Sales
C. Purchase return
D. Sales return
Answer
Answer: Option D
Explanation : Sales return are recorded in Credit note voucher. A credit note is a document sent by a seller to its buyer or, in other words, a vendor to the customer, notifying that a credit has been provided to their account against the goods returned by the buyer.
181. Loans from individual comes under ________ group
A. Fixed liabilities
B. Loans and advances
C. Current liabilities
D. Capital
Answer
Answer: Option B
Explanation : Loans from individual comes under Loans and advances group in Tally.
182. Adjustment entries can be entered in
A. Contra voucher
B. Journal voucher
C. Sales voucher
D. Purchase voucher
Answer
Answer: Option B
Explanation : Journal voucher in Tally is an important voucher which is used to make all kind of adjustment entries, credit purchases or sales, fixed assets purchase entries. In order to pass entries as journal voucher we have to press “F7” shortcut key from accounting Voucher screen on Gateway of Tally.
183. Which shortcut key is pressed to go to company Info. menu from Gateway of Tally
A. Alt+F4
B. Alt+f2
C. Alt+F1
D. Alt+F3
Answer
Answer: Option D
Explanation : Alt+F3 shortcut key is pressed to go to company Info. menu from Gateway of Tally.
184. Which key is pressed to go to Gateway of Tally from company Info. menu
A. Ctrl
B. Alt
C. Esc
D. Enter
Answer
Answer: Option C
Explanation : Esc key is pressed to go to Gateway of Tally from company Info. menu.
185. To change Current Date from Gateway of Tally press the key
A. F1
B. F5
C. F2
D. F9
Answer
Answer: Option C
Explanation : To change Current Date from Gateway of Tally press the F2 key.
186. A ledger may get declaration space for its Alias through
A. F12
B. F11
C. Alt + F1
D. Alt + F2
Answer
Answer: Option A
Explanation : A ledger may get declaration space for its Alias through F12 key.
187. F12 is known as
A. Company Features
B. Company Configuration
C. Accounting Features
D. None of these
Answer
Answer: Option B
Explanation : F12 is known as Company Configuration.
188. The shortcut key to quit from Tally is
A. Ctrl + L
B. Ctrl + P
C. Ctrl + M
D. Ctrl + Q
Answer
Answer: Option D
Explanation : The shortcut key to quit from Tally is Ctrl + Q.
189. The shortcut used to activate calculator is
A. Ctrl + N
B. Ctrl + M
C. Ctrl + A
D. Ctrl + B
Answer
Answer: Option A
Explanation : The shortcut used to activate calculator is Ctrl + N.
190. To activate MRP feature from Gateway of Tally initially we need to press
A. F11
B. F12
C. F10
D. Alt + F1
Answer
Answer: Option B
Explanation : To activate MRP feature from Gateway of Tally initially we need to press F12.
191. Multiple Godowns are activated from
A. F11
B. F11 > F1
C. F11 > F2
D. F11 > F3
Answer
Answer: Option C
Explanation : Multiple Godowns are activated from F11 > F2.
192. To print a voucher from Tally we need to press
A. Ctrl + P
B. Shift + P
C. Alt + P
D. Ctrl + Alt + P
Answer
Answer: Option C
Explanation : To print a voucher from Tally we need to press Alt + P.
193. We can repeat narration by pressing
A. Shift + R
B. Alt + R
C. Ctrl + R
D. Alt + Shift + R
Answer
Answer: Option C
Explanation : We can repeat narration by pressing Ctrl + R.
194. We can cancel a voucher using
A. Alt + X
B. Ctrl + X
C. Shift + X
D. Ctrl + Shift + X
Answer
Answer: Option A
Explanation : We can cancel a voucher using Alt + X.
195. To create Purchase Order press
A. Alt + F4
B. Ctrl + F4
C. F4
D. None of these
Answer
Answer: Option A
Explanation : To create Purchase Order press Alt + F4.
196. Payroll Auto fill is done through
A. Ctrl + A
B. Alt + A
C. Ctrl + B
D. Alt + B
Answer
Answer: Option B
Explanation : Payroll Auto fill is done through Alt + A key.
197. The shortcut used for Sales Order is
A. Alt + F4
B. Alt + F5
C. Alt + F7
D. Alt + F8
Answer
Answer: Option B
Explanation : The shortcut used for Sales Order is Alt + F5.
198. To create a sales voucher in tally, you have to press _______
A. F5
B. F7
C. F8
D. F9
Answer
Answer: Option C
Explanation : To create a sales voucher in tally, you have to press F8.
199. For ‘stock journal’ entry we press ________ in tally
A. F7
B. Alt + F7
C. F10
D. F11
Answer
Answer: Option B
Explanation : For ‘stock journal’ entry we press Alt + F7 in tally.
200. Which shortcut key(s) are used to enter a stock journal in tally
A. F7
B. Ctrl + F7
C. Alt + F7
D. Shift + F7
Answer
Answer: Option C
Explanation : Alt + F7 shortcut key is used to enter a stock journal in tally.
201. Online voucher creation from Day Book report by pressing
A. Ctrl + A
B. Shift + A
C. Alt + A
D. None of these
Answer
Answer: Option C
Explanation : Online voucher creation from Day Book report by pressing Shift + A.
202. To declare a voucher as Post Dated press
A. Ctrl + T
B. Alt + T
C. Ctrl + P
D. Ctrl + D
Answer
Answer: Option A
Explanation : To declare a voucher as Post Dated press Ctrl + T.
203. We can switch from Accounting Voucher to Inventory Voucher pressing
A. F2
B. Alt +F1
C. Ctrl + F1
D. F11
Answer
Answer: Option B
Explanation : We can switch from Accounting Voucher to Inventory Voucher pressing Alt +F1.
204. To use Dr/Cr instead of To/By during Voucher entry or vice versa, Press
A. F10
B. F12
C. F11
D. None of these
Answer
Answer: Option B
Explanation : To use Dr/Cr instead of To/By during Voucher entry or vice versa, Press F12.
205. To change the date, shortcut used
A. Alt + F2
B. Alt + F3
C. F2
D. F1
Answer
Answer: Option C
Explanation : To change the date, F2 shortcut key is used.
206. Which shortcut key is used to change current period in Tally
A. F2
B. Alt + F2
C. F3
D. Alt + F3
Answer
Answer: Option B
Explanation : Alt + F2 shortcut key is used to change current period in Tally.
207. Which Shortcut key is pressed to create a new company in Tally
A. F3
B. Alt + F3
C. F2
D. Alt + F2
Answer
Answer: Option B
Explanation : Alt + F3 Shortcut key is pressed to create a new company in Tally.
208. Which Shortcut key is pressed to view features in Tally
A. F10
B. F11
C. Alt + F11
D. F12
Answer
Answer: Option B
Explanation : F11 Shortcut key is pressed to view features in Tally.
209. Which shortcut key is used to view configure in Tally
A. F10
B. F11
C. F12
D. Alt + F9
Answer
Answer: Option C
Explanation : F12 shortcut key is used to view configure in Tally.
210. Which option is used to exit Tally
A. Exit
B. Close
C. Quit
D. Shut Company
Answer
Answer: Option C
Explanation : Quit option is used to exit Tally.
211. Which shortcut key(s) are used to display list of inventory reports within balance sheet
A. F8
B. F9
C. F10
D. F11
Answer
Answer: Option B
Explanation : F9 shortcut key is used to display list of inventory reports within balance sheet.
212. Which shortcut key is used to take print of any report in Tally
A. Ctrl + P
B. Shift + P
C. Alt + P
D. Alt + Ctrl + P
Answer
Answer: Option C
Explanation : Alt + P shortcut key is used to take print of any report in Tally.
213. Which shortcut key is used to export data of any company in Microsoft Excel spreadsheet or in any other company
A. Alt + P
B. Alt + E
C. Alt + O
D. Alt + S
Answer
Answer: Option B
Explanation : Alt + E shortcut key is used to export data of any company in Microsoft Excel spreadsheet or in any other company.
214. Which shortcut key is used for Select Company in Tally
A. F1
B. Alt + F1
C. F3
D. Alt + F3
Answer
Answer: Option A
Explanation : F1 shortcut key is used for Select Company in Tally
215. Which shortcut key is used to shut opened company in Tally
A. F1
B. Alt + F1
C. F3
D. Alt + F3
Answer
Answer: Option B
Explanation : Alt + F1 shortcut key is used to shut opened company in Tally.
216. Which key is pressed to post entries in double entry accounting system instead of single entry system in Tally.ERP9
A. F11
B. F12
C. Alt + F11
D. Alt + F12
Answer
Answer: Option B
Explanation : F12 key is pressed to post entries in double entry accounting system instead of single entry system in Tally.ERP9.
217. Where do we record all type of adjustment entry in Tally
A. F5:Payment
B. F6:Receipt
C. F7:Journal
D. F4:Contra
Answer
Answer: Option C
Explanation : F7:Journal we record all type of adjustment entry in Tally.
218. Which shortcut key is pressed and then ‘yes’ is given in ‘Use Debit/Credit Noted’ to post entry in Credit Note and Debit Note in Tally
A. Alt + F11
B. F11
C. F12
D. Alt + F12
Answer
Answer: Option B
Explanation : F11 shortcut key is pressed and then ‘yes’ is given in ‘Use Debit/Credit Noted’ to post entry in Credit Note and Debit Note in Tally.
219. In which voucher type credit purchase entry is posted in Tally
A. F5:Payment
B. F7:Journal
C. F9:Purchase
D. F6:Receipt
Answer
Answer: Option C
Explanation : In F9:Purchase voucher type credit purchase entry is posted in Tally.
220. In which voucher type credit sales is recorded in Tally
A. F5:Payment
B. F6:Receipt
C. F7:Journal
D. F8:Sales
Answer
Answer: Option D
Explanation : In F8:Sales voucher type credit sales is recorded in Tally.
221. Which shortcut key is pressed to display Part No. for automobile industries
A. F1
B. F2
C. F11
D. F12
Answer
Answer: Option D
Explanation : F12 shortcut key is pressed to display Part No. for automobile industries.
222. Which shortcut key is pressed to create a new Ledger during voucher entry
A. Alt + C
B. Alt + X
C. Alt + D
D. Alt + A
Answer
Answer: Option A
Explanation : Alt + C shortcut key is pressed to create a new Ledger during voucher entry.
223. Which shortcut key is pressed for voucher entry or deleting a ledger
A. Alt + A
B. Alt + C
C. Alt + X
D. Alt + D
Answer
Answer: Option D
Explanation : Alt + D shortcut key is pressed for voucher entry or deleting a ledger.
224. Which shortcut key is used to set No in ‘Use Common Ledger A/c for Item Allocation’
A. Alt + F11
B. F11
C. Alt + F12
D. F12
Answer
Answer: Option D
Explanation : F12 shortcut key is used to set No in ‘Use Common Ledger A/c for Item Allocation’.
225. Default invoice mode is on for Sales or Purchase entry. Which key should be pressed for entry of sales or Purchase as a voucher
A. Alt + V
B. Ctrl + V
C. Alt + F8
D. Alt + F9
Answer
Answer: Option B
Explanation : Default invoice mode is on for Sales or Purchase entry. Ctrl + V key should be pressed for entry of sales or Purchase as a voucher.
226. The short key for company creation is ________
A. Ctrl+ F2
B. Alt + F2
C. Alt + F3
D. Ctrl + F3
Answer
Answer: Option C
Explanation : The short key for company creation is Alt + F3.
227. F12 button is used to select ________ option
A. Select company
B. More features
C. Inventory
D. Configuration
Answer
Answer: Option D
Explanation : F12 button is used to select Configuration option.
228. F10 is the short key for ________ Voucher
A. Payment
B. Memo
C. Receipt
D. Purchase
Answer
Answer: Option B
Explanation : F10 is the short key for Memo Voucher.
229. F2 is used for
A. Changing current date
B. Changing current period
C. Change the voucher
D. Select payment voucher
Answer
Answer: Option A
Explanation : F2 is used for Changing current date.
230. Calculator area can be activated using
A. Alt + F2
B. Ctrl + M
C. Ctrl + N
D. Alt + M
Answer
Answer: Option C
Explanation : Calculator area can be activated using Ctrl + N.
231. The short key for changing period in tally is
A. Alt + F3
B. Alt + F2
C. Ctrl + F1
D. Ctrl + F2
Answer
Answer: Option B
Explanation : The short key for changing period in tally is Alt + F2.
232. To see any report in detailed way, press
A. Alt + F2
B. F2
C. Alt + C
D. Alt + F1
Answer
Answer: Option D
Explanation : To see any report in detailed way, press Alt + F1.
233. Function key for changing date is
A. Alt + F2
B. F2
C. F5
D. F6
Answer
Answer: Option B
Explanation : Function key for changing date is F2.
234. Function key for changing current period is
A. Alt + F2
B. F2
C. F5
D. F6
Answer
Answer: Option A
Explanation : Function key for changing current period is Alt + F2.
235. To view detailed form of every report, we have to press ________
A. Alt + F2
B. Alt + F1
C. Alt + F3
D. F6
Answer
Answer: Option B
Explanation : To view detailed form of every report, we have to press Alt + F1.
236. Function key for receipt voucher is
A. F3
B. F4
C. F5
D. F6
Answer
Answer: Option D
Explanation : Function key for receipt voucher is F6.
237. Function key for payment voucher is
A. F3
B. F4
C. F5
D. F6
Answer
Answer: Option C
Explanation : Function key for payment voucher is F5.
238. Function key to select purchase voucher is
A. F8
B. F9
C. F4
D. F3
Answer
Answer: Option B
Explanation : Function key to select purchase voucher is F9.
239. Function key to select sales voucher is
A. F8
B. F9
C. F4
D. F3
Answer
Answer: Option A
Explanation : Function key to select sales voucher is F8.
240. Function key to select journal voucher is
A. F5
B. F6
C. F7
D. F2
Answer
Answer: Option C
Explanation : Function key to select journal voucher is F7.
241. Function key to select contra voucher is
A. F4
B. F8
C. F9
D. F7
Answer
Answer: Option A
Explanation : Function key to select contra voucher is F4.
242. For selecting debit note voucher we have to use ________ key
A. Ctrl + F9
B. Ctrl + F8
C. Alt + F7
D. Alt + F8
Answer
Answer: Option A
Explanation : For selecting debit note voucher we have to use Ctrl + F9 key.
243. For selecting credit note voucher we have to use ________ key
A. Ctrl + F9
B. Ctrl + F8
C. Alt + F7
D. Alt + F8
Answer
Answer: Option B
Explanation : For selecting credit note voucher we have to use Ctrl + F8 key.
244. For selecting a company use ________ key
A. F1
B. F2
C. F6
D. F7
Answer
Answer: Option A
Explanation : For selecting a company use F1 key.
245. ________ key helps to select function and features screen
A. F8
B. F6
C. F11
D. F9
Answer
Answer: Option C
Explanation : F11 key helps to select function and features screen.
246. Function key for selecting payment voucher is
A. F5
B. F6
C. F9
D. F11
Answer
Answer: Option A
Explanation : Function key for selecting payment voucher is F5.